Data

Tamper-proof and long-term preservation of data

The blockchain technology can work as a decentralized repository for documents, contracts, properties, and assets for business and public administration. However, while the blockchain is widely acknowledged as a safe technology, many open and permissioned networks on the market still have issues related to insufficient security, scalability and continuity of investments. In particular, mechanisms of economic rewards such as digital tokens make preservation of data entirely reliant on market dynamics, potentially with a high level of volatility and unpredictability.

In line with Ifin Sistemi core business as a Trust Service Provider, the infrastructure of TrustedChain® LTP (Long-Term Preservation) offers a trustworthy and reliable network for decentralized long-term preservation of data, both for public administration and private sector.

The benefits of blockchain application in the industry are significant and potentially able to disrupt the traditional notary services.

Tamper-Proof Timestamping

For every document, file or digital asset, TrustedChain® LTP generates a cryptographic hash incorporated into a transaction and then stored in the blockchain. The hash can be used to certify the existence and the exact content of any file at a certain date and time, making it unalterable. The algorithm-enhanced resistance to tampering ushers in a new way to record and store data in the Trust Services Providers sector.

Proof-of-Existence

The PoE demonstrates the existence of any digital asset at a certain date and time, without showing its contents and keeping confidentiality. This feature can have a wide range of interesting applications at legal level.